When measuring the benefits from investing in human capital
A) the only benefits come from the increase in salary because of going to school.
B) in addition to the monetary benefits, the benefit from expanding horizons should be included.
C) we must include the costs of tuition and books but not the money made from part-time jobs.
D) we must include the foregone earnings in the benefit calculation.
B
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Activities that create water pollution are best associated with:
A. inferior goods. B. positive externalities. C. negative externalities. D. normal goods.
Financial markets are:
A. in many ways the purest expression of the market mechanism. B. a powerful tool for the efficient allocation of scarce resources. C. a global marketplace where sophisticated investors make billion-dollar decisions. D. All of these statements are true.
A deficit ceiling directly limits
A. The trade deficit. B. Inflation. C. The amount of the national debt. D. The amount by which government spending can exceed government revenue.
If short-term and long-term interest rates are currently equal and the Fed contracts the money supply, the yield curve would be expected to:
A. become downward sloping. B. become vertical. C. be unaffected. D. become upward sloping.